Your Finance GuideAustralian finance education07 3337 7680
Stage 1 of 8
Are you ready to buy?
First Home Buyer
Stage 1 / 8 · Readiness

Are you ready to buy?

Buying isn’t universally better than renting. Before the maths, an honest read on whether ownership fits the next five to ten years of your life.

9 min readBy Sarah ChenStage 1 of 8
Most first-home content jumps straight to deposits and grants. We start with the question lenders won’t ask you, but should: do the next five years of your life look like home ownership?

What “ready” actually means

Ready in 2026 isn’t a feeling, it’s a stable income (12+ months in your role or industry), a deposit you didn’t borrow from someone else, a budget that survived three months without surprises, and life plans (kids, study, relocation, business) that don’t fight a 25–30 year loan.

When buying loses to renting

Short-tenure career, planning a baby in the next 18 months and unsure of the city, working overseas, or carrying high-interest unsecured debt, all reasons to keep renting and build the deposit.

Open the Borrowing power calculator

Are you ready to buy?, your checklist

FAQs

How long should I have been in my job?
Most lenders want 6 months minimum at the same employer or 12 months in the same industry. Probation is a common decline reason.
Does HECS-HELP debt stop me from buying?
No. But it reduces your borrowing capacity by roughly 1× your annual repayment.
Read next

WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are based on a secured loan of $30,000 over 5 years for vehicle finance and $50,000 over 5 years for equipment finance, as required under the National Credit Code.